Nation Lanka Finance PLC

Nation Lanka Finance PLC

31st October 2011, the National lanka Finance PLC Announced to Colombo Stock Exchange that the board of Directors Decided to offer the Share by the Way of Right Issue to the Existing Shareholders with attached  Warrants at Free of Charge.

The Purpose of Rights and Warrant Issue is to

  • To Meet the Core Capital Requirement of Central Bank of Srilanka
  • To Finance the Credit and Real Estate Business Activities of the Company and to invest in Share and
  • To Invest in Subsidiaries of the Company

Rights Issue

Number of Shares to be Rights Issue:49,982,562
Rights Proportion:One Rights for Every four Shares Held [1:4]
Consideration:Rs. 10.00 per Share
Total Rights Considerations:LKR 499,825,620.00

 Warrants Issue

No of Warrants to be Issue:29,989,537
Warrant Conversion:Each Warrant Convert into 1 Ordinary Shares in July 2013
Consideration:Free of Charge
Proportion:Three Warrants for Every five Rights to Subscribed [3:5]

Both Rights and Warrant Issues are Subject to the Exchange Approvals and the Shareholders Approvals on General meeting.

Leave a Reply

Your email address will not be published. Required fields are marked *